Insider Selling: Pegasystems (NASDAQ:PEGA) Insider Sells $252,210.00 in Stock

Pegasystems Inc. (NASDAQ:PEGA) insider Kerim Akgonul sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $36.03, for a total transaction of $252,210.00. Following the transaction, the insider directly owned 104,804 shares in the company, valued at approximately $3,776,088.12. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Rifat Kerim Akgonul also recently made the following trade(s):

• On Tuesday, August 25th, Kerim Akgonul sold 3,000 shares of Pegasystems stock. The shares were sold at an average price of $33.99, for a total transaction of $101,970.00.

Pegasystems Stock Performance

Shares of NASDAQ PEGA opened at $36.07 on Friday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 20.38 and a beta of 0.89. The stock has a 50 day moving average price of $33.18 and a 200 day moving average price of $35.85. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. Analysts forecast that Pegasystems Inc. will post 1.66 earnings per share for the current year.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is currently 6.78%.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several recent research reports. Citizens Jmp cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 22nd. Rosenblatt Securities reduced their price target on shares of Pegasystems from $58.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Zacks Research cut shares of Pegasystems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $47.00 price objective (down from $54.00) on shares of Pegasystems in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pegasystems in a research note on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pegasystems has an average rating of “Hold” and an average price target of $47.40.

Hedge Funds Weigh In On Pegasystems

Large investors have recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Pegasystems during the second quarter valued at about $1,770,000. Sei Investments Co. raised its position in Pegasystems by 52.9% during the 1st quarter. Sei Investments Co. now owns 1,052,205 shares of the technology company’s stock worth $44,782,000 after buying an additional 363,896 shares during the last quarter. Norges Bank acquired a new stake in Pegasystems during the 4th quarter valued at approximately $31,905,000. Allspring Global Investments Holdings LLC lifted its stake in Pegasystems by 117.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 814,062 shares of the technology company’s stock valued at $34,427,000 after acquiring an additional 439,417 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Pegasystems by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 1,170,377 shares of the technology company’s stock valued at $69,895,000 after acquiring an additional 33,643 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.